O'Brien told The Journal yesterday that he thinks his previous Bill on the issue is still workable and"still valid". Image: Shutterstock O'Brien told The Journal yesterday that he thinks his previous Bill on the issue is still workable and"still valid". Image: Shutterstock INVESTMENT FUNDS BUYING up whole estates is “undesirable” and the government needs to act on this, according to Tánaiste Leo Varadkar.
“And it’s working against the principle of home ownership and it’s something that we’ve discussed at Government and we’re going to have come up with a solution to that because we can’t see that continuing,” Varadkar said today. While somewhat different to ‘vulture funds’ there has been criticism over the favourable tax treatment both these investors avail of.
“There is a taxation issue,” he said, stating that he is looking at how measures in the government’s Housing For All strategy plan due to be published in July might mitigate it. “Is investment [funds] appropriate in certain areas and in certain parts of the city and for certain types of property, probably yes,” he said, but adding:
O’Brien said the change in law is designed to “level the playing field for first-time buyers and keep the dream of home ownership alive” by earmarking a specific amount of units per development for first-time buyers.
These properties being bought by investment funds has been going on for years. I don’t recall hearing any complaints from any of the opposition parties
Invent more loopholes kind of investigation
This is fast becoming THE issue of our time. Failure to give first time buyers the opportunity to own their own homes is an ideological blind spot for the FFGG Government. They will reap the whirlwind at the polls.
An Taoiseach only reacts after nearly whole housing estate bought by an invesmeng fund. And how about the whole apartment complexes owned by the same funds ?
Stop it happening. We are so proud of fighting for our freedom, we sell off our country bit by bit.
If you are under 40 and vote either Fine Gael or Fianna Fáil then you are a fool.
That's the gov policy of ffg They don't give a fck about the people Any real gov for the people would never have allowed foreign landlords ownership in Ireland and FFG facilitate it TraitorsOfIreland
Government caused the problem but more government intervention will no doubt fix this. Track record and recent covid regulations point towards competent handling of this and there should be nothing to worry about. Right?
Nice misquote. Journal can has tweet spell good
Vulture funds buying up houses is criminal and should be stopped in legislation plus id tax them at 99.5% to dissuade them from doing it PaulDonnellySF
Riiiiiiiiight... Like we believe them in any way. They paved the way for exactly this type of thing. 😡😠👎🏻
So Taoiseach says it IS Acceptable REALLY What planet is he on? The one with a glut of houses?
Don't have a meeting about it. STOP IT😡
Seriously? The Journal is yet another stenographer, just bleating out Govt lines, barefaced propaganda.
“It is not UNacceptable” ? Or did he say it is not acceptable ? christinafinn8
8000 units being built in cherrywood and a qr of those are available for private buyers the rest are to be let by the builder
Breaking news: investment fund buys property, no wait, investment fund buys lots of property.
“It is not UNacceptable” ? Or did he say it is not acceptable
It is unacceptable that they will not pay income on the rent they get from it or on the Capital Gain and it’s actually immoral that they are increasing house prices by bulk buying of avail stock.
Its unacceptable, says taoiseach, and finance minister, and gov politicians. And who's allowing it to happen, the taoiseach, the finance minister, and gov politicians.
This fella is actually worse than Eoghan Murphy.